Czech National Bank Raises Position in Trane Technologies plc $TT

Czech National Bank grew its holdings in Trane Technologies plc (NYSE:TT) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,470 shares of the company’s stock after buying an additional 1,955 shares during the quarter. Czech National Bank’s holdings in Trane Technologies were worth $22,757,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Financial Consulate Inc. purchased a new position in Trane Technologies in the third quarter valued at $25,000. Icon Advisers Inc. Co. purchased a new stake in Trane Technologies during the 2nd quarter worth about $26,000. United Community Bank raised its position in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock valued at $32,000 after purchasing an additional 43 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Trane Technologies in the 3rd quarter valued at about $32,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Trane Technologies in the 3rd quarter valued at about $42,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target for the company in a report on Monday, December 15th. Citigroup increased their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Price Performance

Shares of NYSE TT opened at $434.47 on Thursday. The stock’s 50-day simple moving average is $432.81 and its 200-day simple moving average is $417.68. The firm has a market capitalization of $96.16 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.26 and a beta of 1.19. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $479.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 earnings per share. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s dividend payout ratio (DPR) is currently 32.36%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares of the company’s stock, valued at $27,986,872.20. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,378 shares of company stock worth $21,228,464. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.